Auston Grove Apartments

1160 Auston Grove Drive, Raleigh, NC 27610
Call: 866-220-3907 Email UsAustonGrove001@myLTSMail.com View Map

Opens: Monday-Friday: 9A-6P | Saturday: 10A-5P | Sunday: 1P-5P

$800-$1250

Apartments Raleigh NC Blog

Benefits of Buying or Renting - Raleigh, NC

Benefits of Buying or Renting - Raleigh, NC

Joseph Coupal - Wednesday, September 28, 2016

This is an increasingly common question. Most families think that rent money is “thrown away.” This belief is often quite wrong.

When you add up the cost of owning a property is at least eight percent of the total cost of the home. This is true regardless of whether you pay cash or finance the entire amount (if you use your own cash, there is an “opportunity cost” of not having it invested and making money elsewhere). One way or the other, you are laying out thousands a year to live in a house you own.

From a strictly financial viewpoint, if the cost to rent is less than the cost to own, renting is just fine. If you can rent that half million dollar house for twenty five hundred dollars a month (thirty thousand a year), you can assume the owner is paying you ten thousand a year to live in their residence.

A girl in New York City who is paying $2,400 in rent for an apartment that sells for over $800,000. That is a rental bargain.

What are the downsides of renting? Well, if the rental cost is more than ownership, it might be better to own (not always, see below). If you don’t want to take the chance of being forced to move, then renting may not be for you. Renters lose out on the appreciation of home prices. But we’ve seen over the last decade that residential real estate tends to be a lousy investment (even over the long run). Another downside is that rents tend to increase every year, whereas technically a mortgage should not. However, many mortgages do indeed increase in cost with inflation and time, and the other costs associated with ownership (repairs, maintenance, insurance, property taxes) inexorably rise.

What are the upsides of renting? Certainly the financial advantage discussed above. Another reason is that it gives you the flexibility of living in an area without being tied down. It is not unusual at all for a family to decide to live in a different town or at least a different area of a town after first moving there. Consider the value of calling the landlord when something is broken as another powerful incentive to rent instead of own.

The point is that we should not reflexively think that renting is a mistake. For many, it makes great sense. For more information on apartments in Raleigh, NC contact Auston Grove.

#HowYouLive
floridatoday.com


Renting is Cheaper In Major U.S. Markets! – Raleigh, NC

Renting is Cheaper In Major U.S. Markets! – Raleigh, NC

Joseph Coupal - Wednesday, September 21, 2016

Despite historic-low mortgage rates, it's still cheaper to rent than own in most major U.S. cities. Low inventory, foreign investors and flippers are keeping home prices up.

With interest rates hovering near historic lows, it might seem like the ideal time for renters to jump into the homeownership market and perhaps spend less money each month to own a home than they do to rent one. But a new report shows that scenario may be more fantasy than reality - at least in the country's biggest markets.

The average monthly cost of owning a home is 28% higher than renting in major U.S. markets.

Of 28 U.S. markets surveyed, only four showed it was cheaper to own a home than rent one.

Home prices have gotten close to what we saw at the peak of the market. The magnitude of home price increases has been higher than rental increases.

The study focused on four- and five-star properties in the rental and homeownership markets to ensure an apples-to-apples comparison and to address the surging demand for housing in major cities.

Younger generations just don't want to commute like past generations have - they want to live in cities, near restaurants and bars, where they can work and play in the same area. While there's a lot of affordable housing in the suburbs, that's just not where people necessarily want to live.

So, the study compared the average monthly rent of a high-end apartment with the monthly cost of owning a one-bedroom condo in that city or a three-bedroom single-family home in a low-crime suburban area. The monthly cost of homeownership assumed a 15% down payment on a 30-year fixed rate mortgage, and included taxes, home insurance and PMI.

However, the other 24 markets were more costly to own than rent, with 15 of them being at least 20% more expensive.

Los Angeles showed the biggest dichotomy, with the average cost of owning a home being 39% higher than the average monthly rent. This was followed by Austin, Seattle, Nashville, San Francisco, San Jose, New York/New Jersey/Connecticut, Dallas/Fort Worth, Charlotte, Houston and Orange County, where the monthly cost of owning was more than 30% higher than renting.

On the surface, the report's results seem odd, given the country's 30-year fixed-rate mortgage averaged 3.5% in the week that ended Sept 15, and has remained under 4% for much of the past year.

However, housing prices have been rising at a far sharper clip than rents. Average home prices climbed 5.3% in July 2016 from a year earlier and surged 42.6% from the sector's trough in 2011.

A number of factors are driving the spike in home prices: Low mortgage rates, the country's attractive 4.9% unemployment rate, foreign investors snapping up U.S. single-family homes and condos as safe havens for investment, and - most importantly - a surge in "flippers," which are investors who buy homes and sell them within a year for a quick profit.

Inventory also plays a role. Most construction in recent years has been in building multifamily units - condos and rental apartments. There's a ton of supply coming into the apartment world, which is keeping rents low enough that they're not infringing on homeownership costs.

Whereas, housing inventory has declined.

For more information on apartments in Raleigh, NC, contact Auston Grove.

#HowYouLive
thestreet.com


Raleigh, NC is One of America’s Best Cities for Dating

Raleigh, NC is One of America’s Best Cities for Dating

Joseph Coupal - Tuesday, September 13, 2016

Hooking that hottie is hard enough without the odds stacked against you, so the city researchers at Sperling’s Best Places have identified for you "America’s Best Cities for Dating."

The study is based on criteria that includes percentage of singles ages 18-24, population density, and dating venues per capita such as concerts, coffee shops, bars, bowling alleys, etc., and includes 80 metro areas in America. They teamed up with a company which specializes in the dating game to find out which city is revered as the D.C. (Dating Capital) of the U.S. Raleigh, NC is number 4!

Best Cities for Dating

  1. Austin, TX
  2. Colorado Springs, CO
  3. San Diego, CA
  4. Raleigh/Durham, NC
  5. Seattle, WA
  6. Charleston, SC
  7. Norfolk, VA
  8. Ann Arbor, MI
  9. Springfield, MA
  10. Honolulu, HI

For more information on apartments in Raleigh, NC, contact Auston Woods.

#HowYouLive

bestplaces.net


Tips for Apartment Hunting in Raleigh, NC

Tips for Apartment Hunting in Raleigh, NC

Joseph Coupal - Wednesday, September 07, 2016

Many families move each year in search of opportunity and a new place to live. Many others are looking to move their college student into an apartment. For those currently undergoing the task, searching for an apartment can be a daunting process. Here are some consumer tips in an effort to help you make more informed decisions while involved in the process of leasing a new place to live.

There are many things to consider when you are apartment hunting in Raleigh. Before you begin your search, here are some things to consider:

  1. Rent. Determine how much you can afford and still live comfortably, taking all of your expenses into consideration. One rule of thumb suggests dividing your income by four. Your rent should not exceed more than 25 percent of your monthly income.
  2. Space. How many people will be living in the unit? From 100 to 400 square feet per person is considered practical.
  3. Location. How important is it for you to be near your place of work, school, shopping, medical facilities, etc.?

Before signing a lease you should always be sure to read the terms and conditions carefully and understand your rights and responsibilities as a tenant. Keep in mind that landlord-tenant laws ensure that everyone who lives in rental housing has a decent place to live.

Here are some suggestions on what should be included in your lease:

  • Maintenance. Find out how all repairs are handled such as how to submit a repair request. Ask how quickly tenants can expect maintenance personnel to respond to a request once it has been turned in.
  • Deposits. You should know what your security deposit covers and the conditions which might cause a tenant to experience deductions.
  • Increases. Ask if your rent or other fees will be increased during your lease term, how often and how much notice you will receive.
  • Subletting. Find out whether you are allowed to sublet your unit to another party in case of an emergency.
  • Roommates. Find out if your lease covers roommates individually or together. If your roommate moves out, falls behind or stops paying, are you responsible for their part of the rent or are you viewed completely separate? Apartment complexes in college towns may have different policies, so be sure to ask.
  • Rent. Get a schedule of when monthly payments are due, where rent can be paid and always keep a record of your payment.

Upon move-in, do not forget to document the condition of your apartment. Make sure your list includes each and every flaw or defect in your apartment so you are not held responsible for damages later. It’s advisable to also take photos or a video of your unit prior to move-in so you have documentation available in case a dispute arises when you get ready to move out.

Some more suggestions for renters:

  • Check out reviews of the apartment complex. Go to BBB.org to see the business review of the apartment complex you are considering. This will show its BBB rating, any history of complaints, as well as the complaint details and any contact information.
  • Visit the complex personally. Tour the facility and visit the specific unit you’ll be renting. Make sure the community is safe and that the living space will meet your needs. Does it appear the way it was described? Websites often use pictures taken only from the best vantage points on the property or may be of a promotional unit.
  • Keep a signed copy of the lease. Store it in a safe place so it is readily available in the event you ever need to refer back to it.
  • Consider renter’s insurance. Many apartment communities require tenants have a minimum amount of renter’s insurance before move in. If it’s not required, it’s still an option tenants should consider. Renter’s insurance would cover your losses in the event of fire, burglary or other damage. Pay attention to deductibles and coverage limits when choosing a policy.

For more information on apartments in Raleigh, NC contact Auston Grove.

#HowYouLive
www.macon.com



Auston Grove Apartments

1160 Auston Grove Drive, Raleigh, NC 27610

Call: 866-220-3907
Email UsAustonGrove001@myLTSMail.com
View Map

Opens: Monday-Friday: 9A-6P | Saturday: 10A-5P | Sunday: 1P-5P

$800-$1250